Lacerta Group, LLC Unveils New Sustainable Packaging Solution: ReCERTA™

Berry Global Group, Inc. and Glatfelter Corporation announced that Berry has set a record date of the close of business on November 1, 2024 for the proposed spin-off of its Health, Hygiene and Specialties Global Nonwovens and Films business. The spin-off and merger of Berry’s HHNF Business with Glatfelter are expected to be completed on November 4, 2024, subject to the satisfaction or waiver of the closing conditions for the transaction. As previously announced, in connection with the merger, Glatfelter will effect a reverse stock split and change its name to Magnera Corporation. Subject to the satisfaction or waiver of the closing conditions, on November 4, 2024, (1) Berry will distribute all of the shares of stock of its wholly owned subsidiary that owns the HHNF Business to Berry stockholders as of the close of business on the November 1, 2024 record date by means of a pro rata distribution, (2) Spinco will merge into a subsidiary of Magnera, and (3) the shares of Spinco distributed to Berry stockholders will convert into the right to receive Magnera shares, as illustrated in the hypothetical below. Upon completion of the merger, Berry stockholders are expected to collectively own approximately 90% of the outstanding shares of Magnera common stock on a fully-diluted basis, and current Glatfelter shareholders are expected to collectively own approximately 10% of the outstanding shares of Magnera common stock on a fully-diluted basis.

Clay Dunn, (63), President, North America business segment has decided to retire at the end of 2020 after successfully leading Huhtamaki’s business in North America since 2005. Ann O’Hara, (49), MBA, BSE (Chemical Engineering), has been appointed President, North America business segment and a member of the Global Executive Team. Ann will join Huhtamaki on November 1, 2020 and will assume the role of President, North America on January 1, 2021 following a two-month transition period with Clay Dunn. ”I would like to thank Clay for his outstanding contribution to Huhtamaki over the past 15 years,” says Charles Héaulmé, President and CEO of Huhtamaki. “Under Clay’s leadership Huhtamaki’s turnover in the United States has essentially doubled, passing the USD 1 billion milestone in 2014.”

Sonoco announced it is increasing prices for all rigid paper containers and closures sold in North America by 9.5 percent, effective with shipments on, and after, June 3 , 2021. According to Ernest Haynes, Division Vice President and General Manager, Rigid Paper and Closures, North America, this price increase is necessary to recover rapidly rising costs for key raw materials used to produce rigid paper containers and closures. “Due to the rising inflationary cost of adhesives, laminate structures, recovered paper and steel, we are experiencing input cost pressures that simply cannot be absorbed,” Haynes said. “These inflationary cost increases have been compounded by the after-effects of Winter Storm Uri on the adhesives industry along with incredible demand in the steel marketplace."